Patton Albertson Miller Group LLC Sells 2,475 Shares of Quanta Services, Inc. (NYSE:PWR)

Patton Albertson Miller Group LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 6.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 37,240 shares of the construction company’s stock after selling 2,475 shares during the period. Quanta Services accounts for 1.5% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 11th largest holding. Patton Albertson Miller Group LLC’s holdings in Quanta Services were worth $11,103,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Tower Wealth Partners Inc. boosted its holdings in Quanta Services by 3.1% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock worth $335,000 after buying an additional 34 shares during the period. Huntington National Bank lifted its stake in Quanta Services by 2.9% in the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock worth $370,000 after purchasing an additional 35 shares in the last quarter. Terra Nova Asset Management LLC lifted its stake in Quanta Services by 0.3% in the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after purchasing an additional 38 shares in the last quarter. Greenleaf Trust lifted its stake in Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after purchasing an additional 38 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in Quanta Services by 0.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock worth $1,777,000 after purchasing an additional 39 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Northland Securities restated an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, Robert W. Baird raised their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $342.99 on Tuesday. The firm has a market cap of $50.63 billion, a PE ratio of 63.28 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $180.97 and a 12-month high of $344.45. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $309.24 and its two-hundred day simple moving average is $280.37.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.08 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

Quanta Services Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.